Spain insurance probe raises antitrust risks for travel and health insurers

Spain’s competition authority has launched an investigation into potential anti-competitive practices in the insurance sector, in a move that could have implications for travel and health insurers operating across Europe.

The National Markets and Competition Commission (CNMC) confirmed it carried out inspections at the premises of several insurers and brokerages between 24 and 26 February 2026, marking a preliminary step toward possible formal proceedings.

The probe is examining whether companies engaged in coordinated behaviour around claims handling, including the alignment of compensation coverage and the exchange of sensitive customer information. Authorities are also assessing potential coordination of professional fees within supply chains.

For the travel insurance sector, the focus on claims practices and broker activity is particularly significant, given the reliance on cross-border assistance networks and intermediated distribution models. Any findings of collusion could raise compliance risks for insurers managing international medical claims or partnering with global provider networks.

If infringements are established, the conduct could breach both Spanish competition law and Article 101 of the Treaty on the Functioning of the European Union, exposing firms to substantial fines.

The investigation also reflects a broader trend of increased antitrust scrutiny in European insurance markets, including previous probes into health insurer partnerships in Spain.

Last year, UK consumer organisation Which? launched a ‘super-complaint’ against the home and travel insurance sectors.